That low sum assuaged the concerns of several commissioners about the risks of the virtual currency, said Commissioner Ellen Weintraub, a Democratic appointee.
“The $100 limit was really important to us,” she said. “We have to balance a desire to accommodate innovation, which is a good thing, with a concern that we continue to protect transparency in the system and ensure that foreign money doesn’t seep in.”
Because the commission only approved the acceptance of bitcoin as specifically described in the request by the Make Your Laws PAC, the decision does not permit contributions of more than $100, she said.
But Chairman Lee Goodman, a Republican appointee to the panel, disagreed. He said that the advisory opinion treats bitcoin donations as in-kind contributions — not official currency — meaning that the only limits that apply are the federal caps on all forms of accepted donations. Those limit individuals to giving $2,600 to a candidate per election and $5,000 to a political action committee. Individuals and corporations can give unlimited sums to super PACs.
“To me, the opinion that the commission approved today supports the right of bitcoin users to contribute as they would all other kind things of value,” he said, such as silver dollars and works of art.
“This advisory opinion in no way established the outer limit,” Goodman added.